Robert Shiller On Housing: "None Of This Is Real"

Robert Shiller, professor at Yale University, co founder of the Case/Shiller housing index, and the man who wrote the book Irrational Exuberance at the peak of the real estate bubble in 2005, had this to say about the housing market this morning:

"None of this is real"

"Market is driven by irrational exuberance."